DGB Daegu Bank-Gyeongbuk Province Sign MOU for Win-Win Financial Support

Special Investment of 12 Billion KRW
Up to 18 Billion KRW Support for Companies Located in Gyeongbuk

DGB Daegu Bank announced on the 9th that it signed a business agreement for ‘Gyeongsangbuk-do Win-Win Financial Support’ with Lee Cheol-woo, Governor of Gyeongsangbuk-do, and Kim Se-hwan, Chairman of the Gyeongbuk Credit Guarantee Foundation, at the Gyeongbuk Provincial Office.

This agreement aims to realize win-win finance by providing prompt financial support to financially vulnerable groups such as small business owners and micro-entrepreneurs amid the difficult economic conditions of high interest rates, high inflation, and high exchange rates. Daegu Bank will make a special contribution of up to 12 billion KRW.

Kim Se-hwan, Chairman of Gyeongbuk Credit Guarantee Foundation (left in photo), Hwang Byung-woo, President of DGB Daegu Bank (center in photo), and Lee Cheol-woo, Governor of Gyeongbuk Province (right in photo) are posing for a commemorative photo. Photo by DGB Daegu Bank

Using the special contribution fund of up to 12 billion KRW provided by Daegu Bank to the Credit Guarantee Foundation as a resource, financial support of up to 180 billion KRW is expected to be provided to companies located in Gyeongbuk through the Credit Guarantee Foundation’s guarantee screening process.

Through this contribution, it is expected that low-interest loan support combining small business policy funds and Gyeongbuk’s interest subsidy will be possible. Last year, Daegu Bank became the first financial institution to establish a computerized system that allows the combination of small business policy funds from the Ministry of SMEs and Startups and Gyeongbuk Province’s interest subsidy project (providing 2% support annually for two years). It operated ultra-low interest rate products with an effective applied interest rate of 2-3%.

Bank President Hwang Byung-woo expressed, “I hope that financial support for vulnerable groups in Gyeongsangbuk-do will help the recovery of the local economy and the revitalization of the regional economy. We will continue to consider ways to fulfill our role as the region’s representative bank and coexist with the local community.”